Solution: How much must you invest today in order to withdraw P2,000 annually for 10 years?

How much must you invest today in order to withdraw P2,000 annually for 10 years if the interest rate is 9%?

How much must you invest today in order to withdraw P2,000 annually for 10 years?

Problem Statement: ECE Board April 1998

How much must you invest today in order to withdraw P2,000 annually for 10 years if the interest rate is 9%?

  • A. P12,835.32
  • B. P12,992.22
  • C. P12,562.09
  • D. P12,004.59

Problem Answer:

You must invest P12,835.32 today in order to withdraw P2,000 annually for 10 years .

Solution:

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